Category — Bookkeeping

Use an efficient and simplified system to keep your book keeping in order, your books upto date and produce reports so that you have an accurate and current record of where your business is each week.

Do you know that saying:”A Little Knowledge is a Dangerous Thing”? When applied to an accounting software package like Quickbooks or MYOB, it can become costly.

Many clients around Pascoe Vale South, Coburg North, Keilor East, North Essendon, Inner Northern Suburbs of Melbourne have contacted our professional bookkeeping service after having difficulties keeping on top of their bookkeeping. Contact us for more details

They’ve been shown just enough to be able to enter data and produce reports. However the reports that are generated are not a true reflection of their business.
[Read more →]

A new client contacted us out of desperation. Struggling to prepare all the documentation for the Business Activity Statement, she could not get the figures to balance.

We suggested she email us the MYOB data file, so that we could get a clearer understanding of where she was at with her bookwork. Contact us for details

She then admitted that there were two different data files being used in the office for the bookkeeping!

Here lies the problem: If you are working on the bookkeeping in one MYOB data file, and someone else is working on the bookkeeping in another data file for the same company at the same time, errors will arise – because MYOB is not designed to cater for that.

So we asked her to send us the other MYOB data file , and then we had to work out which file was the most current.

Often the problem is not with the BAS form

Often when clients around Pascoe Vale South, Coburg North, Keilor East, North Essendon, Inner Northern Suburbs of Melbourne ask us to help them with their BAS (Business Activity Statements) the problem is not with the BAS.

The problem lies with somewhere within the bookkeeping process during the BAS preparation. You know the saying GIGO – garbage-in, garbage-out! The actual completion of the BAS form is the easy part.

After all, if the figures do not balance, you can simply make a general journal entry to fix it all up – right? WRONG Contact us for details

PS The ATO advises that:” if you make monthly payments, the PAYG is due on 21 January 2009, while most small businesses that report quarterly, this instalment is due on 28 February 2009
Note that as the date falls on a long weekend in some states, the lodgement and payment deadline has been extended to 3 March 2009 Australia Wide)

We’ve had a number of potential clients contact us, surfing the internet to find the cheapest bookkeeper.

Is a cheap bookkeeper cheap because they themselves do not value their work/worth?

We’ll save you time, the cheapest bookkeeper is probably one who is straight out of TAFE and has got a piece of paper to say that they can do bookkeeping. Maybe the cheapest bookkeeper has done a MYOB course, or a Quickbooks course. Contact us for more details

Maybe the cheapest bookkeeper is just “starting a bookkeeping business” and does not feel confident in “charging too much”

It seems that these days you can get a bookkeeper around Melbourne Inner Suburbs, Fitzroy, Richmond, Toorak, or Pascoe Vale, and Essendon from [Read more →]

Many people are returning to work today after the Christmas / New Year break.

With lower interest rates, lower fuel prices and Kevin Rudd throwing money around like it’s burning a hole in his pocket, what is in store for 2009?

The Australian Taxation Office continue on their relentless search to hammer small business owners and squeeze every last cent out of them. Meanwhile, at the big end of town, multi-nationals and large corporations seem to get away with paying very little tax in comparison.

We’ve seen an increase in small business owners receiving the dreaded ATO letter chasing possible outstanding taxes. Maybe you’ve been a little slack in submitting your Business Activity Statements (BAS) lodgments, and need some help in preparing the paperwork to complete the returns. Contact us here for details

Next Quarterly BAS due 28 February 2009
There’ a few more weeks before the December 2008 quarter is due to be lodged, but bear in mind that the following quarter is then only due a few weeks later, 28 April 2009. It sounds like there’s plenty of time in between, but in Australia there’s a few short weeks in April with Good Friday, Easter Monday and ANZAC day

Don’t get stressed about your bookwork, leave it to professional mobile bookkeepers like us. You can outsource your bookkeeping needs, in the know;ledge that it will be taken care of in a speedy and efficient manner.

Who knows, we may even find some extra income in your business that you were not aware of. Don’t be fooled by believing that bookkeeping is an expense for your business.

Having a good bookkeeping service such as ours, can be a great asset to your business, and you’ll find that our service far exceeds the level of fees.

Smart business operators around Pascoe Vale South, Coburg North, Keilor East, North Essendon realise that an outsourced bookeeping service is an excellent investment for your small business. Contact us here for details

12 Jan 09The ATO advises that:” if you make monthly payments, the PAYG is due on 21 January 2009, while most small businesses that report quarterly, this instalment is due on 28 February 2009
Note that as the date falls on a long weekend in some states, the lodgement and payment deadline has been extended to 3 March 2009 Australia Wide)

With Christmas out of the way, and many small businesses returning to work, it’s time to get all your paperwork together and get it to your bookkeeper or outsourced bookkeeping service- to report on the 2nd quarter (1 September to 31 December 2008) to get your BAS lodged on time.

Maybe the Australian Taxation Office (ATO) does have a heart, after all. Rather than asking for lodgements on 28 January, they automatically give everyone an extension to the BAS lodgements to 28 February.

However, don’t be fooled by their grace, because there is NO WAY that they’ll consider granting an extension after that date. So you need to ensure that you have your Business Activity Statement lodged by 28 February 2009

If you are struggling and need help, if you do not have a bookkeeper, or are looking to outsource to a mobile bookkeeping service, then contact us now

Our bookkeeping Service has clients in and around in the City of Moonee Valley, Pascoe Vale South, Coburg North, Keilor East, North Essendon, Inner Northern Suburbs of Melbourne. Contact us here for details

There’s an increasing demand for capable bookkeepers and bookkeeping services in the Monnee Valley area of Melbourne.

We have a team of bookkeepers to service that area, based in Pascoe Vale South, servcing business owners in Airport West, Essendon and suburbs in between

With the recent launch of the adopted Moonee Valley Economic Development Strategy, “Energise.Connect.Prosper”, Moonee ValleyCouncil has made strong commitment towards commencing programs to support small business.

Over the next 12 months, Council will be [Read more →]

We are constantly amazed by the attitude of some small business owners towards their finances.

Whilst it may be true that you can get a friend or relative to do your bookkeeping, how can you be sure that they are doing the job correctly?

When the going gets tough, they see their bookkeeper as an unnecessary expense. Some small business owners do not have a bookkeeper, believing that their wife, partner, husband, aunty,cousin or friend can do the books at “mates rates” or even at zero cost.
[Read more →]

It’s BAS season again, and the phone’s running red-hot.

It’s not unusual for a small business owner to contact us from the areas around Melbourne inner suburbs Fitzroy, Richmond and Toorak, Coburg North, Keilor East, North Essendon wanting to know how to complete their Business Activity Statement, that’s due on 28 October 2008.

I just need some help with Payroll, and BAS lodgements

Generally the problem is not with the BAS itself, rather it’s with the allocations and the data entry. So often we’ve seen clients who want to save money on bookeeping fees, by them trying to do the bookwork themselves.

Investing a few dollars in a good bookeeper once a quarter to help with your BAS can save you money

By not fully understanding the process, there’s a danger that your figures are incorrect, and you are declaring a higher Tax liability than is correct, and so you will be out of pocket.

Smart business owners understand that by investing a few dollars in a good book-keeper once a quarter, they actually end up ahead, compared to trying to sort out the bookwork themselves.

“I’m quite proficient with MYOB, but I just need some help with Payroll, and BAS lodgements, can you help?”

We often get telephone calls like this – Sometimes we an even help people over the telephone, there and then. Some clients need us to spend a couple of hours with them training to use the MYOB accounting package.

If you need help calculating your BAS from MYOB, then contact us HERE, sometimes it can be simply explained over the phone. Or we can look at your MYOB file and help you work out the BAS. Rather than getting stressed, contact us today

Other clients just need some extra help in working their way through the software to streamline their bookkeeping. Often we get referrals from book keeping clients who are very happy with the bookeeping service that we provide.

Contact Us when you need some help with your bookwork, or some training with your MYOB accounting software

ATO Reviews Book/Record Keeping Of Small Businesses

The Australian Taxation Office have been engaged in extensive programs of visiting Small Businesses to check if they are keeping adequate bookkeeping records. Can your business survive a tax audit? Contact us for a review of your bookkeeping system

Section 262A of the ITAA 1936 requires that a person running a business to keep records that expalin and record all transactions. The documentation must be kept for a minimum of five years

If the ATO find that your bookkeeping is inadequate, then the taxpayer will be informed and advised to improve the record keeping operation, and your business will be revisited in six months.

The ATO has a list of records to be inspected and will contact you for a suitable time to review your bookkeeping and record keeping procedures

Can your business survive a tax audit? Contact us for a review of your bookkeeping system

Disclaimer: We are bookkeepers skilled in establishing and assisting with bookkeeping systems, we are not registered Tax Agents and cannot give advice in relation to tax matters.

Happy New Financial Quarter!

For some business owners the BAS is a pain in the neck

As we enter Q2 for 2008/09 the world of finance seems to be in turmoil, but guess what? The Australian Taxation Office still want you to lodge your Business Activity Statements.

Regardless of what’s happening (or not) in Wall Street or George Street, businesses around Fitzroy and Richmond still need to get their bookwork sorted out for the quarter ending September 30 2008, to have the BAS done by 28 October 2008.

Are you struggling with your bookkeeping?

For some business owners the BAS is a pain in the neck, so they brush it aside and put it in that special place, the “TOO DIFFICULT Pile”

Trouble is, that really doesn’t fix the bookwork, and without a bookkeeper, or someone who’s got a handle on the bookkeeping, those Toorak or Fitzroy business owners that are not addressing the problem may soon find that they get fan mail from the ATO.

Contact Us today, and we’ll help you get your bookkeeping sorted out

PS – We are not Registered Tax Agents, we are recognised BAS service providers by the ATO